schedule of values


Also found in: Acronyms, Wikipedia.

schedule of values

A statement furnished by the contractor to the architect reflecting the portions of the contract sum allotted for the various parts of the work and used as the basis for reviewing the contractor’s applications for progress payments.
References in periodicals archive ?
Instead, his fixed-price contract includes a schedule of values with a $25,000 line item for "mobilization," for which he bills immediately after obtaining permits.
Some contractors attempt to "front-end load" the schedule of values by placing a high value on portions of the work done early in the construction period so that they will be paid more of the contract sum sooner.
As work proceeds, the owner pays the contract price in accordance with completion of the work specified in the schedule of values.
Additionally, Pemex is obliged to carry out a series of works on behalf of Conproca, for which Conproca will pay Pemex at the value fixed by the contractual schedule of values.
Construction management services are required to provide technical support during construction as needed, including site inspections and attending meetings, reviewing shop drawings, processing payment requisitions, responding to information requests, reviewing claims and potential change orders, reviewing contract schedules and schedule of values and reviewing as-built drawings.
Contract details are entered one time using familiar forms, and subcontractors simply apply performance data against the defined schedule of values.
Engineering support during construction is anticipated to include, but is not limited to: periodic site inspections, attending meetings, reviewing shop drawings, responding to requests for information, reviewing claims and potential change orders, reviewing contract schedules and schedule of values and reviewing as-built drawings.
The Bradley Lake Hydro Project 2015 Schedule of Values Total is $411,734,036.
Engineering support during construction is anticipated to include, but is not limited to periodic site inspections, attendance at meetings, review shop drawings, respond to requests for information, reviewing claims and potential change orders, reviewing contract schedules and schedule of values, and reviewing as-built drawings.
Construction Management Services Are Required To Provide Technical Support During Construction, Including Site Inspections And Attendance At Meetings, Review Of Shop Drawings, Processing Payment Requisitions, Responding To Information Requests, Review Of Claims And Potential Change Orders, Review Of Contract Schedules And Schedule Of Values, And Review Of As-built Drawings.
Any work not specifically covered in the schedule of values shall be considered incidental to the contract.

Full browser ?